Culture secretary Maria Miller made a profit of more than £1 million on a property at the centre of an investigation into her use of taxpayer-funded expenses, it is reported.

The Commons standards committee is considering the cabinet minister's claims under the second home allowance in relation to the property in Wimbledon, south-west London.

In a revelation which will ratchet up the scrutiny on Miller's expenses claims, The Daily Telegraph reported that the house, which she and her husband bought for £234,000 in 1995, was sold on Valentine's Day this year for £1.47m.

She is expected to repay thousands of pounds and also apologise for her use of the expenses system, the Telegraph said.

A source close to the culture secretary said: "It is not surprising that London houses go up in value well over a decade after they are first bought . It is also not unusual for people to move house."

Miller claimed second home allowances of £90,718 – almost the maximum permitted – between 2005 and 2009 towards mortgage payments, bills and other costs relating to the house.

The cross-party standards committee has yet to produce its long-awaited report into Mrs Miller's claims.

A statement on the committee's website said no further announcement on the matter was expected before Wednesday,April 2 "at the earliest".

The probe into Mrs Miller's expenses was launched in December 2012 by then parliamentary standards commissioner John Lyon, following a complaint from Labour MP John Mann.

The source said: "Maria has co-operated fully with the inquiry, asked for by the Labour Party, which has now been going on for a year and a half amidst constant unfounded speculation. We hope it will conclude soon."